Abu Dhabi – Mubasher: The net income of operating banks in Abu Dhabi reached AED 7.7 billion in the first quarter of 2017, according a recent report by the Statistics Centre in Abu Dhabi (SCAD).
The net income of commercial banks represented 82.6% of the banks’ total, while Islamic banks acquired 17.4%.
The centre attributed the increase in Islamic banks’ revenues to the growth in investments income by 23.9% and other incomes by 59%.
The value of employees’ compensation rose 1.1% in Q1-17, compared to the year-ago-period. This includes wages, salaries, remunerations, and in-kind benefits, the centre added.
The interest rate on deposits for more than a year rose to 1.09% in Q4-16 from 1.07% in Q3-16.
The interest rate remained relatively stable on most deposits, loans, and advances in Q1-17, standing at 9.8% for personal loans, 7% for trust receipts, and 17.8% for other loans and advances.
